Virginia Virginia Automatic Extension Payment (replaces 500E)

Virginia Automatic Extension Payment (replaces 500E)
2023 Form 500CP - Virginia Automatic Extension Payment
Virginia
Form 500CP

Corporate Income Tax Automatic
Extension Payment Voucher

2023

All corporation tentative tax payments must be made electronically.
Use this voucher only if you have an approved waiver.
Corporation Electronic Filing Requirement
All corporations are required to file their annual income tax
returns and make all payments electronically. If you are unable
to file and pay electronically, you may request a waiver. You
can obtain the waiver request form at www.tax.virginia.gov
or by calling (804) 367-8037.
To Make Your Tentative Tax Payments
The Department provides two secure online options for
submitting an extension payment: eForms and Business
Online Services. Payments are made by Debit EFT and you
may schedule your payment for a future date. A corporation
may also make its extension payments using an ACH Credit
transaction through its bank. Some banks may charge a fee
for this service. An Electronic Payment Guide is available on
the Department’s website with information on how to submit
ACH Credit payments to the Department.
Extension Payment
You are allowed an automatic 7-month extension of time
(6 months for nonprofit corporations and entities other than
C corporations) to file your corporation income tax return. This
provision does not extend the due date for payment of taxes
and you must pay at least 90% of your tax by the original due
date for filing the return (April 15, 2024 for calendar year filers).
Purpose of Form 500CP
Form 500CP is a payment coupon that can be used only if
you have an approved waiver from filing electronically. File
Form 500CP to submit your payment by check or money order.
When and Where to File Form 500CP

soon as you realize you owe tax. For fiscal year filers, file
Form 500CP with your payment on or before the due date
of your return. The due date for a nonprofit corporation with
unrelated business income is the 15th day of the 6th month
following the close of the taxable year. If the due date falls
on a Saturday, Sunday, or legal holiday, file Form 500CP on
the next business day.
Write your Federal Employer Identification Number,
taxable year, and “VA 500CP” on your payment. Send the
completed Form 500CP and payment to:
Department of Taxation
P.O. Box 1500
Richmond, VA 23218-1500
If you need assistance, please call (804) 367-8037.
Penalty for Failure to Timely Pay the Tax Due
When the return has been filed during the extension period
but 90% of the tax liability was not paid by the original due
date, you will owe a penalty. The penalty is 2% per month
for each month or fraction thereof from the original due date
through the date of full payment or the extended return due
date, whichever occurs first.
If the return is not filed on or before the extended due date,
the late file penalty shall apply as if no extension had been
granted.
The daily interest on any tax due and/or applicable penalty
will accrue at the rate of 2% over the federal “underpayment
rate” in accordance with Va. Code § 58.1-15 from the original
return due date until paid in full.

If you have an approved waiver, file Form 500CP with your
payment on or before April 15 (for calendar year filers) or as

500CP

2023 Virginia Corporate Income Tax Automatic Extension Payment Voucher
Virginia Department of Taxation
P.O. Box 1500, Richmond, VA 23218-1500
(804) 367-8037

(DOC ID 502)

Payment must be made electronically. Use this
voucher only if you have an approved waiver.

0000000000000000 5028888 000000

Check if a nonprofit corporation
For Taxable Year Ending

FEIN
Corporation Name

Entity Type

MONTH 	
First 4 Letters of Corp. Name

 500EC

Tax Payment Amount

Address (Continued)

Va. Dept. of Taxation  2601008-W  Rev. 08/23

 500	

Make check or money order payable to:
Virginia Department of Taxation.

Address (Number and Street)

City, State, and ZIP Code

YEAR

Check type of return

$

.00